Yorkville Real Estate Update

YORKVILLE REAL ESTATE UPDATE
April 2015

Transaction volumes remained unchanged from last month, volume is down considerably from the annual average. One noticeable element of the Spring 2015 market is the lack of inventory. Inventory is uncommonly low meaning we are currently in a seller's market. The buyers remain strong and active, but their pool of options are somewhat limited compared to previous years.

The average price of a Yorkville condo fell last month to $1,116,352 - representing a 0.3% decrease in prices. Two bedroom suites continue to be the most popular purchases accounting for almost 43% of all transactions. Most notably, of the two bedroom suites, was the recent sale of comedian Howie Mandel's condo at 100 Yorkville Avenue. The 2300 SF 2-bedroom suite fetched $3.1-million after sitting on the market for 177 days.

If you have any questions about Yorkville or the real estate market, pelase don't hesitate to reach out. We'd be happy to answer any questions you or your family may have. Please contact Matt Smith at matt@thesmithestate.com.